Compania Sud Americana De Vapores S.a. · BCS:VAPORES
Compania Sud Americana De Vapores — Q1 2018 Earnings Presentation
17 slides from Compania Sud Americana De Vapores's earnings presentation, May 29, 2018
Slide 1: Investor Presentation Q1 2018 Results
Investor Presentation Q1 2018 Results May 29, 2018
Slide 2: Disclaimer
Disclaimer This presentation provides general information about Compañía Sud Americana de Vapores S.A. (“CSAV”). It consists of summary information and does not purport to be complete. It is not intended to be relied upon as advice to potential investors. No representations or warranties, express or
Slide 3: Agenda
Agenda 1. Highlights 2. Market Overview 3. Q1 2018 Results 4. Outlook
Slide 4: Highlights
Highlights CSAV reported a loss of US$ 21.4 M in Q1 2018, mainly explained by the result of Hapag‐Lloyd AG (“HLAG”), which was affected by the maritime industry's conditions, and also due a deferred tax expenses effect. This result represent an improvement of US$ 0.7 M compared to Q1 2017. At th
Slide 5: Market Overview
Market Overview Extracted from HLAG´s Investor Presentation Q1 2018, available at https://www.hapag‐lloyd.com/en/ir.html 5
Slide 6: Market Overview: SCFI vs Rotterdam Platts
Market Overview SCFI vs Rotterdam Platts (May 2018) (1) SCFI ‐RTM Margin Rotterdam Platts (2) SCFI 1.400 1.200 1.000 800 Avg. Margin Avg. Margin 2013 = 480 2014 = 536 600 Avg. Margin Avg. Margin Avg. Margin 2017 = 522 400 2015 = 468 2016 = 436 200 0 Jan‐13 Jul‐13 Nov‐13 Jan‐14 Jul‐14 Nov‐14 Jan‐15 J
Slide 7: Q1 2018 Results: CSAV Net Income Q1 2017 vs Q1 2018
Q1 2018 Results: CSAV CSAV Net Income Q1 2017 vs Q1 2018 Figures in USD million Container Transport Segment CSAV Net Income Other Transport Equity‐Accounted Defered Taxes GAE & Others CSAV Net Income Q1 2017 Services Segment Investees (HLAG) Q1 2018 (22.1) (21,3) (21.4) 4.1 0.4 (3.7) (0.1) 7
Slide 8: Q1 2018 Results: CSAV
Q1 2018 Results: CSAV Figures in USD million Q1 2018 Q1 2017 YoY Q4 2017 Operating revenue 20.0 22.6 (2.6) 27.8 Operating cost (17.9) (20.8) 2.9 (26.5) Gross margin 2.1 1.8 0.3 1.3 SG&A and others (2.2) (2.4) 0.2 5.1 Other income 0.4 0.4 0.0 (3.7) Operational result 0.3 (0.2) 0.5 2.7 EBITDA (w/o equ
Slide 9: Q1 2018 Results: CSAV Segments Results
Q1 2018 Results: CSAV Segments Results Figures in USD million Other transport services Q1 2018 Q1 2017 YoY Q4 2017 Operating revenue 20.0 22.6 (2.6) 27.8 Operating cost (17.9) (20.8) 2.9 (26.5) Gross margin 2.1 1.8 0.3 1.3 SG&A and others (1.4) (1.6) 0.2 3.4 Other income 0.4 0.4 0.0 (3.7) Operationa
Slide 10: Q1 2018 Results: Hapag-Lloyd EBITDA Margin, EBIT Margin and Net income trends
Q1 2018 Results: Hapag‐Lloyd EBITDA Margin, EBIT Margin and Net income trends 8.4% 6.3% 2.1% 0.4% Q1 2017 Q1 2018 Q1 2017 Q1 2018 EBITDA Margin EBIT Margin Group profit / loss Q1 2017 Q1 2018 (42) (62) Figures in USD million 10
Slide 11: HLAG Q1 2018: Clearly improved EBITDA margin
HLAG Q1 2018: Clearly improved EBITDA margin. Extracted from HLAG´s Investor Presentation Q1 2018, available at https://www.hapag‐lloyd.com/en/ir.html 11
Slide 12: Balance Sheet Position
Balance Sheet Position (Figures in USD million) Assets March 2018 December 2017 Var Cash & cash equivalents 38.8 42.4 (3.6) Accounts receivables 19.0 20.0 (1.0) Inventories 3.1 3.2 (0.1) Other current assets 2.9 3.2 (0.3) Total current assets 63.8 68.8 (5.0) Equity accounted investees 1,926.0 1,932.
Slide 13: Cash Position
Cash Position (Figures in USD million) Cash flow Q1 2018 Initial cash position 42,4 Operating cash flow (3.5) Investing cash flow 0.7 Non‐controlling interests & subsidiaries 0.5 Interest & dividends received 0.2 Financing cash flow (0.9) Interests paid (0.9) Exchange rate variation 0.1 Final cash p
Slide 14: Outlook
Outlook Main focus of HLAG’s management to reach up to 90% of expected synergies (US$ 435 M p/a) at the end of 2018 and 100% from 2019 onwards. At the end of Q1 2018, approximately 60% of the expected synergies had been realized. Clear target to deleveraging in HLAG from 2018 onwards, considerin
Slide 15: Annexes
Annexes BIICSAV
Slide 16: Hapag-Lloyd / UASC Merger: Expected Synergies
Hapag‐Lloyd / UASC Merger: Expected Synergies Extracted from HLAG´s Investor Presentation Q1 2018, available at https://www.hapag‐lloyd.com/en/ir.html 16
Slide 17: Hapag-Lloyd and LSF 2020: exploring and evaluating all possible options
Hapag‐Lloyd and LSF 2020: exploring and evaluating all possible options Extracted from HLAG´s Investor Presentation Q1 2018, available at https://www.hapag‐lloyd.com/en/ir.html 17
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